28-Aug-18, World Oil
Total SA's withdrawal from Iran's giant South Pars gas field has given China another chance to secure a stake in the world’s most coveted energy assets: abundant and low-cost Middle Eastern oil and gas.
%20Bloomberg.jpg "China gets another shot at Mideast energy (c) Bloomberg")
Image: Bloomberg
Chinese companies have invested in Iraq, the United Arab Emirates and Iran in recent years, and have expressed interest in Saudi Arabia and Qatar. The resumption of sanctions by the US on Iran has presented new opportunities, starting with the option to take control of South Pars after Total failed to secure an exemption from the US penalties.